Brand new, even with best rebates, you should not expect any lower than $1299 however long you wait... Used or refurbished it can be had for lower now.
Part of that high pricing can be due to that little extra magic some claim it produces and the rest certainly due to the branding and marketing by Canon. Beyond that I don't want to get into the value of this lens at that price and how much more or less you get compared to its cheaper, but definitely a well-performing cousin f1.4 That dead horse of a topic has been resurrected here more times than Betty White's career
I have noticed that as I have been doing my research! I was leaning towards the 50 1.4, but after a bunch of research I decided that I should invest in a higher-quality lens for a focal length I plan on using a lot.
I also just discovered a rebate on the Canon Pro-100, 10, or 1 printers when purchasing a Canon lens or Camera on Adorama and B&H. You can get the Pro-100 printer for almost $100 with this rebate. Pretty good deal for a $500 printer.